Brera sells Munich property

George Sell George Sell Uploaded 05 October 2017


Germany: Brera Serviced Apartments has sold its Munich property to a bank based in southern Germany.

The property, in the western part of Munich was sold within a structured bidding process to a South German bank which will retain Brera as the main tenant.

As well as 59 serviced apartments, the building includes a restaurant and an architectural office. The property was sold through LR Immobilienverwaltung GmbH & Co.KG, the main investor of Brera Serviced Apartment GmbH.

The selling price was 23 times the yearly net rent. JLL advised on the sale.


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